- IOG didn’t negotiate to combine USDC into Cardano.
- Charles Hoskison predicts that historical past will repeat itself concerning stablecoin integration on Cardano.
- Cardano Basis rejects $3 million USDC integration contract in 2021.
Cardano founder Charles Hoskinson revealed that Enter-Output World (IOG), the corporate that develops and maintains the Cardano blockchain, didn’t negotiate with Circle for USDC integration on Cardano. In a latest submit on X, Hoskinson mentioned the corporate by no means takes an opinion on launching stablecoins on blockchain networks.
Nevertheless, the Cardano founder recalled previous occasions and predicted that historical past would repeat itself concerning USDC integration. In response to Hoskinson, John McPherson, previously of the Cardano Basis, mentioned the introduction of USDC in 2021. At the moment, the muse rejected a $3 million integration settlement, however resumed negotiations a number of years later.
Associated: Hoskinson responds to criticism, teases RLUSD integration into Cardano
Cardano’s USDC Readiness
Linda, a stake pool operator at Malpool, defined the USDC scenario and highlighted Cardano’s improvement from 2021 to early 2022. She famous that the blockchain added native tokens with the Mary exhausting fork in 2021, permitting NFTs and tokens on Cardano for the primary time.
The blockchain then executed the Alonzo exhausting fork in September 2021 and added sensible contracts. DeFi protocols began rising on Cardano in late 2021 and early 2022. Linda identified that Cardano was in its early phases in 2021 and couldn’t implement USDC. Nevertheless, she believes that blockchain is now mature sufficient to deal with stablecoins.
In the meantime, many Cardano (ADA) lovers imagine that the Cardano Basis's failure to introduce a stablecoin casts doubt on the blockchain's potential and limits its skill to draw funding. Some lovers have expressed considerations and referred to as for the muse to work with distinguished stablecoin issuers to foster blockchain progress.
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